ENA

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0812%/8h= −88.9% APRnext payment −$1.02 per $10,000 · paid last 24h −0.552%

Price spread now: Polymarket Perps against dYdX+0.014%47s7-day average +0.059% · you sell dearer than you buy

Net, funding: paid 7d − costs−$468as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$3373.373% of the position

Long on dYdX Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−1.303%−$130 on $10k

Price spread, last 4 days (all we have)+0.039%+$4 · spread now +0.014%, 7d avg +0.059%

Together, before fees−1.264%−$126 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$24 a day on $10k at the current rate, and Polymarket Perps is 0.045% cheaper against dYdX than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.059%). Swap the legs. The two prices were read 47 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX ENA-USD	0.2087	0.0912	pay 0.0114% / 1h	6m 46s	$138K	$16K	5x
Short	Polymarket Perps ENA-USD	0.2087	0.0100	get 0.0013% / 1h	6m 46s	$116K	$2.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against dYdX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee dYdXbpFee Polymarket PerpsbpOrdersPrice spread, now +0.014%Rate

Funding earned: −$170.56
Price spread: +0.014% → +0.059%: −$4.5
Slippage, 4 orders: −$319.27
Fee dYdX: 5 bp × 2 orders: −$10
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$512.33
Costs to cover: 3.373%
Break-even: never at this rate

Slippage from dYdX: live order book, 40 min ago; Polymarket Perps: live order book, 5 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy dYdX live order book, 40 min ago	100.11 bp	215.8 bp −$216	479.4 bp −$4,794	798.0 bp −$79.8K	1511.6 bp −$755.8K
Sell Polymarket Perps live order book, 5 min ago	3.12 bp	7.1 bp −$7	8.5 bp −$85	doesn't fit	doesn't fit

ENA on 42 exchanges

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_ENA_USDC	−0.0181%	4h	0.2086	−0.053%	$43K	$16K	10x	as long as short
01 Exchange ENAUSD	−0.0176%	1h	0.2089	+0.086%	$4K	$60	10x	as long as short
Kraken Futures PF_ENAUSD	−0.0134%	1h	0.2087	−0.004%	$2.6M	$3.0M	50x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2087	+0.004%	$53K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2087	−0.010%	$81K	—	150x	as long as short
Bitget ENAUSDT	+0.0012%	4h	0.2087	−0.029%	$47.5M	$55.7M	75x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2122	+1.662%	$734	$57K	5.5x	as long as short
Lighter ENA	+0.0096%	1h	0.2089	+0.095%	$5.1M	$13.0M	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2088	+0.038%	$55K	$386K	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2085	−0.087%	$47K	—	10x	as long as short

Show all 42 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado ENA-PERP	+0.0100%	1h	0.2089	+0.081%	$539K	$1.7M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2089	+0.081%	$112.0M	$74.1M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2089	+0.067%	$1.3M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2088	+0.030%	$379K	$497K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2088	+0.029%	$124.5M	$402.2M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2087	0.000%	$83.8M	$183.1M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2088	+0.038%	$20.5M	$97.6M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2081	−0.283%	$32K	$314K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2089	+0.086%	$77K	$219K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2070	−0.825%	$101K	$11K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2087	+0.004%	$14.0M	$27.6M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2088	+0.024%	$43.2M	$42.2M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2089	+0.081%	$24.8M	$14.6M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2088	+0.019%	—	$29.4M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2087	0.000%	$403K	$468K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2078	−0.435%	$2.8M	$7.7M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2082	−0.229%	$239K	$6.6M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2084	−0.154%	$353K	$4.2M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2084	−0.154%	$18K	$652K	50x	as long as short
Polymarket Perps ENA-USDshort	+0.0100%	1h	0.2087	+0.014%	$116K	$2.6M	10x
SunX ENA-USDT	+0.0100%	4h	0.2039	−2.324%	$1K	$929K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2087	−0.010%	$6K	$5K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2092	+0.239%	$269K	$769K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2087	−0.010%	$1.8M	$9.1M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2087	−0.011%	$1.6M	$4.5M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2087	+0.012%	$73K	$4K	3x	as long as short
Phoenix ENA	+0.0113%	1h	0.2084	−0.163%	$13K	$278K	10x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0304% / S −0.0754%	1h	0.2087	+0.001%	$57K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2087	−0.010%	$5.4M	$3.4M	75x	as long as short
Reya ENARUSDPERP	+0.0411%	1h	0.2087	−0.010%	$1K	—	15x	as long as short
Coinbase International ENA-PERP-INTX	+0.0480%	1h	0.2092	+0.210%	$767K	$1.8M	50x	as long as short
dYdX ENA-USDlong	+0.0912%	1h	0.2087	long leg	$138K	$16K	5x